investors - The African Mirror

Apr

2024

More African founders secure $1M+ Funding in new trend

START-UPS in Africa are increasingly hauling in US$1 million or more in funding, even as the investment climate on the continent cools off. Data from Africa: The Big Deal, shows ventures raising over US$1 million thrive due to their bankability, suggesting a selective but keen interest from investors amidst a cautious investment backdrop. "While the amount raised quarterly is still at its lowest since Q4 2020, we can see that the number of ventures raising at least $1m during a quarter has started to bounce back in Q3 2023 and continued to do so consistently since," The Deal says. Investors…

Mar

2024

By RACHEL SAVAGE

Senegal’s election: What is at stake for investors?

BUSINESS

INTERNATIONAL investors will be closely monitoring the presidential election in Senegal, scheduled for March 24, after delays incited widespread protests. The country, usually one of coup-prone West Africa's most stable democracies, has been gripped by tension since early February, when President Macky Sall tried to postpone the vote that had been due to take place on Feb. 25 by 10 months, leading to warnings of democratic backsliding. WHAT ARE INVESTORS FOCUSED ON? Senegal has about $4.2 billion of outstanding international bonds, two issued in euros and three in U.S. dollars. For investors in those bonds, the current focus is on whether the presidential vote will be…

Feb

2024

By BONFACE ORUCHO, BIRD STORY AGENCY

Investors bet big on Africa’s logistics potential

BUSINESS

AFRICA'S logistics sector is growing into a lucrative market and strategic hub within the global logistics network as investors' confidence in the sector increases. A new report by logistics company Agility confirms the global logistics industry is considering expansion plans or first-time investments in the continent’s logistics sector. According to Agility Vice Chairman Tarek Sultan, “This is the most optimism we’ve seen about Africa in the 15 years of the Index.” Notably, 47.4% of respondents are planning additional investments in Africa, while 14.2% of the logistics executives from different companies are planning first-time investments on the continent. Only 6.6% of…

Jan

2024

By PARITOSH BANSAL

For investors, 2024 is year of transition to a new economic order

BUSINESS

INVESTORS appear convinced that major Western central banks are close to a much-awaited pivot, from raising interest rates to cutting them. Markets rallied as a result, but 2024 could hold surprises as the world adjusts to an economic order where money is not cheap. Global stocks rallied and top government bond yields fell in recent weeks, despite central bankers cautioning against pivot bets. In the United States, for example, investors are now effectively positioned for the Federal Reserve guiding the economy to a perfect landing, bringing down inflation without triggering a recession. The market's conviction comes after the U.S. economy surprised people with its resilience. That was…

Dec

2023

By SETH ONYANGO, BIRD STORY AGENCY

Investors bank on African timber for sustainable building boom

NEWS

WOODEN buildings like the engineered timber construction planned for the world's tallest wood building in Zanzibar may only be starting to appear in cities worldwide but that is not stopping investors from betting on wood becoming a key building block in African construction. "About 200 years ago, everyone was building with timber, then it shifted to cement, steel, and stones. Now people are going back, especially with modern housing," explained Karl Kirchmayer, co-founder and managing partner at ASC Impact. Although wood buildouts in major cities and towns are hardly in the mainstream, the trajectory, based on recent commercial activity, leans…

Jul

2023

By The African Mirror

Senegal president tells investors ‘repressive’ rules will be simplified

NEWS

SENEGALESE President Macky Sall promised investors that "difficult and repressive" customs and tax rules would be reformed as the West African nation seeks to lure more foreign capital. Addressing more than 50 foreign delegations at an investment forum in the capital Dakar, Sall said Senegal had to simplify its administrative processes to make its business climate more attractive. "The fiscal environment is purposely set up in a way that it is not understood," he said in an opening speech. "We also need to reform the customs code, which honestly is also difficult and repressive, the tax code, and the civil…

Jun

2023

By CONRAD ONYANGO, BIRD STORY AGENCY

Investors train eyes on African youth with gaming campuses

NEWS

IN early June, Maliyo, a game studio in Nigeria began training its pioneer class of 27 participants, drawn from the West African country as well as Kenya, Cameroon and South Africa, while this July, Microsoft is scheduled to run a 2-day virtual gaming camp that will take place across four African cities: Cairo, Lagos, Nairobi, and Johannesburg. Also lining up in a growing list of gaming academies and short-term learning experience camps springing up on the continent is ‘Level up Africa’ with a planned student intake in early 2024. Organisers of all these virtual and onsite programs -lasting from two…

Mar

2023

By The African Mirror

Water, water everywhere? Investors eye Africa’s water sector

NEWS

SETH ONYANGO, BIRD STORY AGENCY INVESTORS are diving into Africa's water sector, with Metito Utilities Limited (MUL) and British International Investment (BII) being the latest to announce their entry into the market. The UK's development finance institution and the multinational utility firm have unveiled the Africa Water Infrastructure Development (AWID) venture that will develop climate-smart water projects at scale and increase water security across the continent. AWID's innovative approach to water infrastructure and provision in Africa is expected to set a sustainable commercial model, boosting long-term investment in the sector. The platform will incorporate cutting-edge green technologies and alternative energy…

Apr

2022

By The African Mirror

Uganda seeks investors to revive copper mine

BUSINESS

ELIAS BIRYABAREMA UGANDA said it was inviting expressions of interest from investors to restart a vast copper mine in the country's west that also holds significant cobalt deposits. The Kilembe mine, which sits on the foothills of the ice-capped Rwenzori mountains on the border with the Democratic Republic of the Congo, is estimated by government geologists to contain about 4 million tonnes of ore that is 1.98% copper and 0.17% cobalt. "We have invited companies to express their interest in partnering with the government through a mineral production sharing agreement," Uganda's finance and mining ministers said in a joint statement.…

Apr

2022

By The African Mirror

African start-ups net $1-billion in 3 months

BUSINESS

SETH ONYANGO, BIRD STORY AGENCY MONTH-ON-MONTH growth figures show Africa’s startup ecosystem continues to receive a funding frenzy as investors flock to the continent’s sizzling tech space. This comes as demand for tech solutions to power Africa’s fledging internet economy continues to grow. With 1.8 billion US dollars already invested in the first three months of 2022, Africa: The Big Deal projects it will only be days until the 2 billion mark is reached. “Compared to last year, there’s been 2.5x more funding raised in Q1-22 than in Q1-21. But, how is this funding distributed geographically? The ‘Big Four’ still…